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Australian population to hit 25 million

Property Markets / Outlook

Australia

Mar 23 2018

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Australia’s total population grew 1.6 per cent over 12 months to 24.7 million, putting the country on track to top 25 million in July. 

Fast-paced growth in NSW and Victoria was due to strong economies and growing new housing supply, with weakness in other states prompting relocation.  

Terry Rawnsley, a principal of consultancy SGS Economics & Planning said the figures underlined the growing housing and infrastructure challenges of an ageing nation. 

The group of people aged 65-plus is growing at more than twice the rate of 18-64-year olds and 0-17-year olds, putting pressure on infrastructure such as aged care facilities. 

The pressures were most significant in SA, he said, though other areas were facing similar challenges. 

"There are more people leaving NSW for other states and more people travelling to Queensland from other states," Housing Industry Association senior economist Shane Garrett told The Australian Financial Review. . 

As many as 12,000 of Queensland's 19,000 net internal migrants were from NSW, he said. 

Victoria grew the fastest, with a 2.39 per cent year-on-year gain, but the pace had stalled. 

NSW grew 1.57 per cent to around 7,895,819, while Queensland grew by 1.58 per cent to 4,948,697. 

Tasmania's population rose 0.63 per cent, to a population of 522,042, while the population of NT fell by 40 people to 246,065 from 246,105 in June

 

Photo by Liam Andrew on Unsplash

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